HM-PA

0.035

(%)

Listing Information & Profile

Profile for Securities of PLC

Amended Announcements
Please refer to the earlier announcement reference number: LIP-13052019-00002

VORTEX CONSOLIDATED BERHAD

Instrument Category Securities of PLC
Instrument Type Preference Shares
Description
VORTEX CONSOLIDATED BERHAD ("VORTEX" OR "COMPANY") 

ADJUSTMENTS TO THE CONVERSION PRICE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN VORTEX ("ICPS"), CASH PAYMENT FOR CONVERSION OF ICPS AND NUMBER OF OUTSTANDING ICPS PURSUANT TO THE CONSOLIDATION OF EVERY 4 EXISTING ORDINARY SHARES IN VORTEX ("VORTEX SHARE(S)") HELD AS AT 5.00 P.M. ON 3 FEBRUARY 2021 ("ENTITLEMENT DATE") INTO 1 VORTEX SHARE ("SHARE CONSOLIDATION")

1st Further Issue Information

Listing Date 04 Feb 2021
Issue Date 03 Feb 2021
Issue/ Ask Price Malaysian Ringgit (MYR)   0.2000
Issue Size Indicator Unit
Amount Issued under Further Issue in Unit 0
Enlarge Issue Size in Unit 17,062,777

Initial Listing Information

Listing Date 15 May 2019
Issue Date 07 May 2019
Issue/ Ask Price Malaysian Ringgit (MYR)   0.0500
Issue Size Indicator Unit
Issue Size in Unit 914,828,754
Maturity Mandatory
Maturity Date 06 May 2024
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Not Applicable
Coupon/Profit/Interest/Payment Rate
Vortex has full discretion over the declaration of dividends, if any. Dividends declared and payable annually in arrears are non-cumulative and shall be in priority over the Vortex Shares.
Coupon/Profit/Interest/Payment Frequency Not Applicable
Redemption Not Applicable
Exercise/Conversion Period 5.00   Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.1500
Revised Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.6000
Exercise/Conversion Ratio 3:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Tendering of securities
Settlement Type/ Convertible into Physical (Shares)



Remarks :
Pursuant to the adjustments to the conversion price of ICPS, cash payment for conversion of ICPS and number of outstanding ICPS arising from the Share Consolidation ("Adjustments"),

(i) the existing number of 68,251,151 ICPS as at the Entitlement Date will be adjusted into 17,062,777 ICPS (after disregarding the fractional entitlements arising from the Adjustments), which will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 4 February 2021, being the next market day following the Entitlement Date;

(ii) the conversion price of ICPS of RM0.15 each will be revised to RM0.60 each; and

(iii) the cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Vortex Share) of RM0.10 each will be revised to RM0.40 each. 

Further, in accordance with the provisions of the Company's Constitution, the Adjustments will take effect from 4 February 2021, being the next market day following the Entitlement Date.

The notice setting out the details of the Adjustments to the holders of ICPS will be issued and despatched to entitled ICPS holders in due course.

This announcement is dated 3 February 2021.


Announcement Info

Company Name VORTEX CONSOLIDATED BERHAD
Stock Name VC-PA
Date Announced 03 Feb 2021
Category Listing Information and Profile
Reference Number LIP-02022021-00003